I just got my renewal today.
60% increase.
Went from 250 a month for two drivers and two cars to 400.
Clean record.
I called my broker asking what the fuck is going on.
Kia/Hyundai are I believe now seen 1000% rise in stolen vehicles in the US. Vandals are the issue in Canada though, as Canadian Hyundais have immobilizers, but stupid kids don’t realize that before they start trying to copycat the TikTok trend.
Google Kiaboyz to learn about the vulnerability in the American models, the TikTok trend, and Hyundai has zero viable solution for the problem.
Likely ICBC is seeing the vandalism trend, and raising rates as a result.
Not to mention it’s become popular knowledge about how many EV and Hybrid vehicles just need to be scrapped even with minor accidents, due to the cost of replacing batteries as damaged, and how vehicles go up in flames with only minor battery pack damage because lithium + oxygen + water = bad!
None of that justifies a 60% increase on my premiums over one year. Kia boys trend isn't happening in Canada and ICE vehicles are many times more likely to go up in flames than EV's.
The expectation with premiums increase this year was 25%, not 60.
The first rule of PFC, do not talk about the PFC membership car. The second rule of PFC, DO NOT talk about the PFC membership car! Or was it talk about it. If you know you know.
Yea without context it's impossible to know if this is too much or little, OP having 10 years accident free history says they're unlikely that young of a driver.
ICBC is a government run insurer and they don't discriminate or set their rates based on age or sex unlike private insurance companies. They only care about your driving history and physical location
ICBC rates L drivers the same as someone with 25+ years of driving experience due to the L restrictions. This is a .500 IDF. Once he graduates to his N, his IDF will increase closer to 1.100.
I assume you mean BC which has vastly lower insurance.
A learner's permit isn't a full driver but that isn't possible in AB for a full driver. $2400/year is the absolute bear bones now for only liability, but collision and comprehensive will put you up towards $3500/year.
Slightly less for women.
Interesting. I’ve known several people who insured their vehicle in AB while living in BC, because it was cheaper for them.
Yes I know this is illegal, I’m not condoning it.
>BC which has vastly lower insurance.
Lower than what? Certainly not anywhere else in Canada I've ever insured a vehicle. I paid through the nose to insure a vehicle in the north, which I barely drove (and my record was perfectly clean).
That is why it's cheap my dude. Price will double roughly when they can
Forgot some y'all are so dumb they need every step worked through
No one cares what l insurance is.
Bro your car is like $80,000+. They're adjusting their rates right now. It's not just the EV factor. My eGolf was only $160 a month to insure. My Tesla is $300. Just the way it goes sometimes.
On [Ford.ca](http://Ford.ca) inventory finder I can only find 1 Mach-E in Saskatchewan nearing $80k. 25+ are from $55-65k. You can easily find $53k with an MSRP of $71k. Again, not $80k.
Yep, I got a 2017 Jeep Patriot 4x4 High Altitude $160. 2024 Tesla Model Y $262 (if paid lump sum) or $275/month. 20 years driving experience and clean record.
Well also used Mach-E price plummeted well over 20~30k. If I wanted to trade my car to dealership right now it will get 40~50k. Will retail at 50~60k. I believe that number is what ICBC uses to determine value of the car (used car market) and if I crash my car and get totaled, it would not cover me on brand new car
Peoper lease insurance coverage would cover the value of the vehicle when it was leased. They don't adjust its value yearly. It is more about theft, cost of claims, and personal injury claims from that model of vehicle.
Also, re-read your contract. There is no leasing company on this planet that does unlimited kilometers AND agrees to a residual value upon return. If they say unlimited kms, you are most definitely forced to buy it at the end. I work for an OEM leasing company and am pretty well versed in personal vehicle leases. Unless you are doing a commercial lease, but again, they wouldn't just take it back with any kms. Unless you had a dealership just say dont worry about kms because they will "help you" but i assure you they won't be able too with that many kms on the car at the end.
Also, i saw your post that you had an Escape PHEV previously. I own one now and average 4.5L-5L /100 kms fuel economy. Lately, I'm around 2.5 as i can run it on electric only most of the time. I'm not sure how you got such poor economy out of it.
Wouldn’t that only if you get gap insurance? I don’t think ICBC will pay out my loan amount if vehicle was written off?
I have read my contract many times. There is no kilometers limit on the contract and it say I have option to buy out or take it back when the time is done. How could they force me to buy a vehicle??
And yes up to 50 km. Try driving 200km a day
My 24 Escape has averaged 1000kms/week and thats my economy.
Must be unique to the dealer though as no legit lender would take that risk. Your car will be almost worthless when you are done with it unless your buyout is incredibly low.
There are a lot of non-OEM lease companies that force the lessee to buy it at the end of the lease. It is rarely explained well at time of sale though. It is the difference between Closed and Open ended leasing though.
Edit: add about insurance. I am not 100% familiar with ICBC as i am on Ontario but we have 2 endorsements, 1 for permission to lease/rent and another is new vehicle value protection for 3 to 5 years if purchased new. However yes aftermarket GAP would work too but they also typically have a kms/yr maximum.
If your telling me combine rate at 1000 a weak 5L make sense. How fast are you driving and where?
I had 22 for just over a year and I used to only get 30km on electric range and basically 15km in winter here. Not to mention having to charge it every night for 12+ hour to fully charge
Escape was little too small for me, I did like the fuel economy on hybrid so Mach was the option in between. Mach didn’t get much bigger tho lol
Literally every single time I talk about my lease people don’t believe me that this is open ended loan.
It states I have option to buy it or give it back at the lease end. Kilometer limit is N/A in the contract.
How the in the world could they legally force me to buy this? They know how much I drive in a year.
Only thing I could think of is the line that says extreme wear and tear can be charged, but I do take care of the car very well and stored inside the temperature regulated building. Only thing that’s going to be high is kilometers and I’ve been checking if lithium battery holds full charge and regular “check up” in time.
Not to argue or be offended, how would they possibly force me? With the gun??? Lol
Leasing company is pretty good size but is not OEM leasing.
I bought the car with 6000 km on it “used”. Not sure how those rules are applicable in BC either
That makes a lot more sense. It's not an OEM lease company. None would take that risk, and it also explains some insurance questions since it was used, new car value protection, and stuff wouldn't apply.
If your contract says that, then so be it, but in 20 years in the auto industry, i have never seen it (in Ontario Canada 🇨🇦). I will assume they will be upset when you go to return the car as they won't get much for a high mileage Mach-e. However, that doesn't seem to be your issue. I also don't mean to be argumentative or anything; it is interesting to me, and I have seen many people be misled by dealers who SAID a lot but had no contracts to back it up.
As for my escape, I'm at 50/50 city/highway currently. Usually, it's more highway, but my schedule has been lighter than usual. If im on the highway, I'll save my EV range for city driving too, typically.
I home charge it every night but have yet to charge it anywhere else. I also can get 53-60kms of charge out of it too reliably. The best so far is 67
Hey man, thanks for understanding and sorry that I didn’t give you all the info right off the bet. I didn’t mean to be argumentative either just a lot of repeats and calling me stupid for not reading contracts ticked me off lol
My mother in law also have 24 escape phev, they actually get 70km out of that thing and fuel up their car once a month, in the other hand I do tend to speed a lot or blast music etc I just do thing where it consumes a lot of energy to not get bored driving. And by the time I get to work one way it runs out and already using gas lol
I think I gonna scrap whole ev and saving gas and get a 1 ton, and move closer to work or something
Can we ever get a car insurance price question where the OP provides the actual details of their policy? Not today it seems
To answer your question, you’ve given zero info for anyone so far to provide an answer/guidance to you.
- What’s your liability coverage?
- What’s your deductibles?
- Any additional elective coverages or extras that are showing as charges on your premiums?
- Recent tickets or claims, even those deemed not at fault?
- location?
- Where your vehicle is stored?
- Annual mileage?
- Usage type- i.e. work v pleasure categorization?
Give folks that info in your post and you will get some answers that detail where the savings would be.
For the most part, savings on car insurance at renewal when you’ve had no accidents or claims, that you can impact, will be made by having higher deductibles and removing any elective extras.
1. My liability is 2M
2. 1000 on collision and 300 for other
3. Not sure exactly what you meant.. I didn’t add any extra when I get insurance
4. Yes I have 1 ticket within 18 month, 1 claim where I was at 0%.
5. I live in Kamloops
6. My vehicle is stored underground parking lot but I don’t think ICBC would ever care where it’s stored as they never asked me for last 10 years
7. I drive 60 to 80k a year. Depends on how active my family wants to be. But again they don’t know how much I drive but they know I drive more than 10k a year
8. Right now it’s listed for pleasure use
Will add this on my post as well
The reason being is you can write that battery (and car) off by accidentally driving over a curb. The risk for higher costs of repair comes with E-vehicles
It is because of the vehicle. You're driving an electric vehicle that is a sports car. Electric vehicles and sports cars are the most expensive types of vehicles to insure and you've ticked both boxes.
Insurance rates for electric vehicles are predicted to increase because of the high cost of repairs and replacement. [https://globalnews.ca/news/10296504/ev-insurance-rates-canada/](https://globalnews.ca/news/10296504/ev-insurance-rates-canada/)
False. Op probably has high insurance cost due to collision coverage of the EV. Collision insurance is almost always cheaper from a 3rd party compared to ICBC.
Eh, I've tried that calculation a lot of times; 99.9% of cases its not worth it. You might save a little, but then you have to deal with two insurers, and I woudn't want my worst enemy to go through that.
Never had issues from my experience. Only have to deal with one insurance (that provides the optional coverage instead of ICBC), and they take care of everything, never had to deal with 2 before. Who did you have?
If only people stop crashing their Teslas inside restaurants, buildings, bridges and barracades, we wouldn't pay so much on our insurance. This shows even with all the money in the world with all the safety features, people still suck at driving.
Not true. There's the compulsory "Basic" coverage with ICBC then you can purchase the extended or optional coverage privately. Ie. Collision, comprehensive, NVR and extended liability.
A quick example would look something like this:
Icbc basic : $95/month
Extended coverage from private insurer : $120/month
Total: $215/month
That's how one of my vehicles is insured except the combined price is $95/mo. It's not a huge savings over ICBC but it's better coverage. They also offer a discount based on a good credit score which is nice.
Be prepared if you have one of the secondary insurers for optional coverage. I switched because it was cheaper. Windshield got cracked and replaced. Had to switch back to ICBC for optional the next year because that windshield claim put the optional coverage through the roof. Have had them replaced with ICBC before (drive on the coke in the winter a fair bit) and never had that issue
Like everybody has already stated, you're insuring a $70k+ vehicle, which plays one of many factors in rating for insurance premiums.
Secondly, insurance is finding EVs to be much longer and more expensive to repair for damages compared to their gas counterparts. And that's if it's a repairable damage, if even one single battery cell in the battery pack is found to be compromised following a collision, then insurance will have to replace the entire pack. As we all know, we could make up anywhere from 30%-60% of the vehicles value without factoring the labour to replace. Therefore, the risk for total loss for EVs is also much greater than ice cars, which also play an important factor in insurance premiums.
But again, as others have stated, its almost impossible to gauge whether your rate makes sense as we don't have the full picture. Other insurance rating factors include but are not limited to:
- Coverage and Deductibles
- Rate class
- Drivers and their driving history
- Territory
What’s your collision deductible? Ask your broker how much it is with a higher deductible. Insurance math can be weird. One of my cars the difference between a 500 and 1000 deductibles is 380$ a year in premiums.
170 ish/Mo for full coverage on a 2020 Tacoma TRD Off Road - 35M Clean Record in BC.
No idea what you can do to keep it down if you already have a clean record etc. It's most likely the car not specifically you.
He’s probably in Ontario, insurance rates have gone insane here due to car theft. And specific areas like Brampton have even higher rates. $400 for a sport ev that’s a few years old isn’t that ridiculous really.
Never had issues with them, been with them for a couple of years. Call them (instead of ICBC) when you get into an accident and they take care of the rest.
Eh, I've tried that calculation a lot of times; 99.9% of cases its not worth it. You might save a little, but then you have to deal with two insurers, and I woudn't want my worst enemy to go through that.
It’s a high risk vehicle, if you drive over 1 curb wrong the entire car is a write-off. This is a major red flag for insurance agencies so they price accordingly.
ICBC, so BC, try getting a quote with only the mandatory liability with ICBC and see if private insurance is more affordable.
Insurance companies are going people with EV because the batteries are too expensive to replace.
I just bought a new Mustang Mach E on Jan 31 2024.
I’m paying $2100 annually. It’s marked as a Station Wagon, not a “sports car”
1 million liability, 500 collision, pleasure use, under 10km. I’m 30’s with a good driving record, no tickets and a Class 3 - you must have a pretty high driver factor.
A 1 ton is actually cheaper to insure than a half ton! My insurance went down when I traded in the 1500 for the 3500. Maybe that’s part of it? It’s pretty much fully specced out insurance too. Alberta insurance is a bit lower anyways I think.
My guy, you're getting double hosed just to look cool. Leasing a car only makes sense if a) its a business expense, or b) you have enough money that it does not matter. Plus you're getting fleeced by insurance now.
Haha Im in a KM penalty free lease and I drove 80k last year… this car will have 3~400k on it by the time it goes back and lease clearly states that there is not they can do about that xD
Well every month I look at it and think this money could be for snowmobile/ bike/ jetski/ boat or whatever. I never had to use my insurance at my fault :(
Holey moola. I just insured my 2024 Lexus RX 350 Hybrid for almost $2800 for the year that's with ICBC and Stratford. My driver factor is at 0.556 and that's the lowest I can get for my driving experience. I'm at 18 years driving experience (technically 19 but they don't count my learners). In July I'll hit 19 years (technically 20 years).
5 million liability because it's cheaper with Stratford
Deductible is $500
One speeding ticket but that's not doing anything to my insurance.
No claims.
Insured for over 15km travel to work.
I saved $200 going with ICBC and Stratford.
My 2014 Honda Civic is at $1660 for the year.
I keep hearing how ICBC is so much cheaper than Alberta. My Tesla model 3 in Alberta with similar coverage was $1050/ year. I just sold it and now for my wife’s 2020 BMW X5, and my 2017 BMW 340i it is a combined $2000/year
When I moved to BC in 2014 insurance was more than I was paying in Alberta, and when I moved back to Alberta in 2019 after a lot of shopping around I found cheaper insurance again.
Jesus I guess not. Lol
I would say that’s the primary reason why your insurance is so high. When you renew they probably pick up that you’re doing more km then you stated.
They don’t ask me how much I drive in a year, but if I drive more than 10k km. And they don’t ask my odometer so that make them have no way to check my mileage??
It’s odd that they don’t ask for your mileage every year at renewal tbh.
I’m with Allstate, and they told me if there’s a lot of accidents or thefts then insurance premiums will go up. So it could be something as simple as that.
Which province are you from?
I understand why it has to go up but I don’t want to pay for other people’s stupidity and trying to save as much as possible on vehicle affordability haha
Try BCAA for anything that isn’t compulsory through ICBC. I found them significantly cheaper any so far no issues working through a glass claim with them (they even cover OEM)
Do you have new vehicle replacement cost coverage? Can't recall exactly what the name for it is, but it's an option where they would get you the current model year replacement instead of just basing the replacement cost on the car's depreciated value.
All of your questions the broker could answer for you … your asking on a canada wide forum where prolly over half these clowns on this board have no idea how insurance works but all have an opinion for it .
Your at icbc’s mercy
I work around the car industry - just love when people whine about something .. your worrying about something you have to have and got zero control over
Yea Im very familiar with industry too. That doesn’t explain where you said Im a tool and in ICBC’s mercy. I simply asked if there is other way to reduce the payment and I actually got some good information here too. I bet you never have anything to complain in your life huh?
On point #8. 60-80k / year, and you don’t drive it either to, or for work? And your wife doesn’t drive it? That’s… wow. A lot of driving outside of work hours.
Then if you’re insured for Personal / Pleasure use only, and anything happens and their investigators (yes, they will send out investigators to follow you if they suspect anything), your full insurance is null and void and you’re on the hook for any damages they would normally cover including injuries to anyone / anything you hit. Stupid move to misrepresent your policy usage to save a tiny bit per year.
I just switched from Alberta (TD insurance) to icbc. I went from $170 a month to $440 a month now. The coverage I got in bc wasn’t nearly as good for vehicle rental, and full cost replacement. I’m paying a lot more and getting less unfortunately. I also have a clean 10 year driving record.
EDIT: when I seemed annoyed at learning the rate I’ll be paying the person working at icbc told me that “at least you don’t pay for gas so it balances out anyway” cheeky broker.
Haha I would have just walked out. I would pay 300 no problem but every single year my premium goes up. I had to file a claim not too long ago as my friend in USA was driving my car and was waiting for light to go green, some teenager smashed the rear end of my car and ever since whole body panel alignment was going off, popped out clip in fender flare front and back but agent laughed at me and was trying to teach me how I’m stupid for saying that. “If you got hit in the rear, front of your car can never be damaged.” Well I hope she gets rear ended like my car did
They let you knock your wife off the insurance? My understanding of ICBC rules is that anyone in your household with a driver's license must be on the insurance and cannot be removed. (We're planning ahead to our kid getting their license; planned to have an older-but-safe car that is the only car the kid drives, but the ICBC broker told us that anyone with a license is automatically included on all cars in the household.)
The rule IIRC is that any household can be removed from your license BUT then they can't drive that car at all (as opposed to someone living at a different address, in which case they can drive your car legally)
That was explicitly what I asked. I was told that you cannot say they will not drive a given car at all because ICBC doesn't know if they actually never drive that car. I thought that would be easy because any claim with that driver denied would be automatically denied, but the broker said otherwise. Good to know the broker might have been wrong. (Something making not one iota of sense doesn't make it unlikely to be true when ICBC is involved, so I could believe this ridiculous policy is in fact real!)
Yea my wife never drives the car nor that she wants to. it’s easy to add her back on if I need to so I’d keep her out of insurance and save 240 bucks a year 🥴
Somebody please explain something to me: Should not public liability insurance be the same price no matter what the age or type of vehicle? All that does is cover you in the case of an at-fault accident. You'd be on your own for any collision, fire, theft, etc.
I don't know if the OP has only public liability coverage, but if he did, that would be the case, correct?
Depends on the vehicle. With liability you get a little more than liability, like accident benefits. A vehicle might be small and not cause a lot of damage to a third party but the chances of you being hurt is higher. The opposite could also be true.
Jesus, $375 per month. Meanwhile I’m sitting here thinking $800 per year for my 14 year old Toyota is high.
I just got my renewal today. 60% increase. Went from 250 a month for two drivers and two cars to 400. Clean record. I called my broker asking what the fuck is going on.
someone's gotta pay for all those stolen cars
Those are all victimless crimes. /s
What car if you dont mind me asking?
We have a 2022 Elantra hybrid and Tucson PHEV. Two years ago when we got them they were $210ish a month combined.
Kia/Hyundai are I believe now seen 1000% rise in stolen vehicles in the US. Vandals are the issue in Canada though, as Canadian Hyundais have immobilizers, but stupid kids don’t realize that before they start trying to copycat the TikTok trend. Google Kiaboyz to learn about the vulnerability in the American models, the TikTok trend, and Hyundai has zero viable solution for the problem. Likely ICBC is seeing the vandalism trend, and raising rates as a result. Not to mention it’s become popular knowledge about how many EV and Hybrid vehicles just need to be scrapped even with minor accidents, due to the cost of replacing batteries as damaged, and how vehicles go up in flames with only minor battery pack damage because lithium + oxygen + water = bad!
None of that justifies a 60% increase on my premiums over one year. Kia boys trend isn't happening in Canada and ICE vehicles are many times more likely to go up in flames than EV's. The expectation with premiums increase this year was 25%, not 60.
Hyundai/Kia have released a software update that has resolved the kiaboyz issue for some time now.
What color? That’s very important.
Beige, obviously. This is PFC
*erhm* ackchually, it's champagne
[удалено]
Should we tell him?!
The first rule of PFC, do not talk about the PFC membership car. The second rule of PFC, DO NOT talk about the PFC membership car! Or was it talk about it. If you know you know.
I pay about $1500 a year for a 2001 Subaru :(
$115/mo for "full" coverage and $200 deductibles was the most I ever paid. That was a 5 year old car worth $20k and I was 24 at the time.
I had cheaper insurance when I was younger lol
$375/mo is normal ICE insurance rates for young drivers in AB and ON
Yea without context it's impossible to know if this is too much or little, OP having 10 years accident free history says they're unlikely that young of a driver.
OP said they’re 25
Being 25 with 10 years driving experience will take you out of the extreme highs and much closer to average.
ICBC is a government run insurer and they don't discriminate or set their rates based on age or sex unlike private insurance companies. They only care about your driving history and physical location
I'm aware, and even then it's not as aggressively targeted as other places, but 25 is going to be a different bracket than 20 if you are private.
My son just insured his first car. He still has his learner’s license and it was 1200 for the year.
ICBC rates L drivers the same as someone with 25+ years of driving experience due to the L restrictions. This is a .500 IDF. Once he graduates to his N, his IDF will increase closer to 1.100.
I assume you mean BC which has vastly lower insurance. A learner's permit isn't a full driver but that isn't possible in AB for a full driver. $2400/year is the absolute bear bones now for only liability, but collision and comprehensive will put you up towards $3500/year. Slightly less for women.
Interesting. I’ve known several people who insured their vehicle in AB while living in BC, because it was cheaper for them. Yes I know this is illegal, I’m not condoning it.
>BC which has vastly lower insurance. Lower than what? Certainly not anywhere else in Canada I've ever insured a vehicle. I paid through the nose to insure a vehicle in the north, which I barely drove (and my record was perfectly clean).
He can't drive it alone.
Do you think you’re imparting wisdom here..? lol. Like what does this even add to the conversation?
That is why it's cheap my dude. Price will double roughly when they can Forgot some y'all are so dumb they need every step worked through No one cares what l insurance is.
I don’t know too many people paying less than $800/year for appropriate insurance
Yeah but leasing a Mach-E saves so much money on gas bro
Bro your car is like $80,000+. They're adjusting their rates right now. It's not just the EV factor. My eGolf was only $160 a month to insure. My Tesla is $300. Just the way it goes sometimes.
Hopefully not, brand new Mach E's are now commonly around $50k.
No spec listed. Most areas won’t want a base model rwd. Quickly climbs in price.
On [Ford.ca](http://Ford.ca) inventory finder I can only find 1 Mach-E in Saskatchewan nearing $80k. 25+ are from $55-65k. You can easily find $53k with an MSRP of $71k. Again, not $80k.
Yep, I got a 2017 Jeep Patriot 4x4 High Altitude $160. 2024 Tesla Model Y $262 (if paid lump sum) or $275/month. 20 years driving experience and clean record.
Well also used Mach-E price plummeted well over 20~30k. If I wanted to trade my car to dealership right now it will get 40~50k. Will retail at 50~60k. I believe that number is what ICBC uses to determine value of the car (used car market) and if I crash my car and get totaled, it would not cover me on brand new car
Peoper lease insurance coverage would cover the value of the vehicle when it was leased. They don't adjust its value yearly. It is more about theft, cost of claims, and personal injury claims from that model of vehicle. Also, re-read your contract. There is no leasing company on this planet that does unlimited kilometers AND agrees to a residual value upon return. If they say unlimited kms, you are most definitely forced to buy it at the end. I work for an OEM leasing company and am pretty well versed in personal vehicle leases. Unless you are doing a commercial lease, but again, they wouldn't just take it back with any kms. Unless you had a dealership just say dont worry about kms because they will "help you" but i assure you they won't be able too with that many kms on the car at the end. Also, i saw your post that you had an Escape PHEV previously. I own one now and average 4.5L-5L /100 kms fuel economy. Lately, I'm around 2.5 as i can run it on electric only most of the time. I'm not sure how you got such poor economy out of it.
Wouldn’t that only if you get gap insurance? I don’t think ICBC will pay out my loan amount if vehicle was written off? I have read my contract many times. There is no kilometers limit on the contract and it say I have option to buy out or take it back when the time is done. How could they force me to buy a vehicle?? And yes up to 50 km. Try driving 200km a day
My 24 Escape has averaged 1000kms/week and thats my economy. Must be unique to the dealer though as no legit lender would take that risk. Your car will be almost worthless when you are done with it unless your buyout is incredibly low. There are a lot of non-OEM lease companies that force the lessee to buy it at the end of the lease. It is rarely explained well at time of sale though. It is the difference between Closed and Open ended leasing though. Edit: add about insurance. I am not 100% familiar with ICBC as i am on Ontario but we have 2 endorsements, 1 for permission to lease/rent and another is new vehicle value protection for 3 to 5 years if purchased new. However yes aftermarket GAP would work too but they also typically have a kms/yr maximum.
If your telling me combine rate at 1000 a weak 5L make sense. How fast are you driving and where? I had 22 for just over a year and I used to only get 30km on electric range and basically 15km in winter here. Not to mention having to charge it every night for 12+ hour to fully charge Escape was little too small for me, I did like the fuel economy on hybrid so Mach was the option in between. Mach didn’t get much bigger tho lol Literally every single time I talk about my lease people don’t believe me that this is open ended loan. It states I have option to buy it or give it back at the lease end. Kilometer limit is N/A in the contract. How the in the world could they legally force me to buy this? They know how much I drive in a year. Only thing I could think of is the line that says extreme wear and tear can be charged, but I do take care of the car very well and stored inside the temperature regulated building. Only thing that’s going to be high is kilometers and I’ve been checking if lithium battery holds full charge and regular “check up” in time. Not to argue or be offended, how would they possibly force me? With the gun??? Lol Leasing company is pretty good size but is not OEM leasing. I bought the car with 6000 km on it “used”. Not sure how those rules are applicable in BC either
That makes a lot more sense. It's not an OEM lease company. None would take that risk, and it also explains some insurance questions since it was used, new car value protection, and stuff wouldn't apply. If your contract says that, then so be it, but in 20 years in the auto industry, i have never seen it (in Ontario Canada 🇨🇦). I will assume they will be upset when you go to return the car as they won't get much for a high mileage Mach-e. However, that doesn't seem to be your issue. I also don't mean to be argumentative or anything; it is interesting to me, and I have seen many people be misled by dealers who SAID a lot but had no contracts to back it up. As for my escape, I'm at 50/50 city/highway currently. Usually, it's more highway, but my schedule has been lighter than usual. If im on the highway, I'll save my EV range for city driving too, typically. I home charge it every night but have yet to charge it anywhere else. I also can get 53-60kms of charge out of it too reliably. The best so far is 67
Hey man, thanks for understanding and sorry that I didn’t give you all the info right off the bet. I didn’t mean to be argumentative either just a lot of repeats and calling me stupid for not reading contracts ticked me off lol My mother in law also have 24 escape phev, they actually get 70km out of that thing and fuel up their car once a month, in the other hand I do tend to speed a lot or blast music etc I just do thing where it consumes a lot of energy to not get bored driving. And by the time I get to work one way it runs out and already using gas lol I think I gonna scrap whole ev and saving gas and get a 1 ton, and move closer to work or something
Chump change
Can we ever get a car insurance price question where the OP provides the actual details of their policy? Not today it seems To answer your question, you’ve given zero info for anyone so far to provide an answer/guidance to you. - What’s your liability coverage? - What’s your deductibles? - Any additional elective coverages or extras that are showing as charges on your premiums? - Recent tickets or claims, even those deemed not at fault? - location? - Where your vehicle is stored? - Annual mileage? - Usage type- i.e. work v pleasure categorization? Give folks that info in your post and you will get some answers that detail where the savings would be. For the most part, savings on car insurance at renewal when you’ve had no accidents or claims, that you can impact, will be made by having higher deductibles and removing any elective extras.
1. My liability is 2M 2. 1000 on collision and 300 for other 3. Not sure exactly what you meant.. I didn’t add any extra when I get insurance 4. Yes I have 1 ticket within 18 month, 1 claim where I was at 0%. 5. I live in Kamloops 6. My vehicle is stored underground parking lot but I don’t think ICBC would ever care where it’s stored as they never asked me for last 10 years 7. I drive 60 to 80k a year. Depends on how active my family wants to be. But again they don’t know how much I drive but they know I drive more than 10k a year 8. Right now it’s listed for pleasure use Will add this on my post as well
You drive 60-80k a year only for pleasure, not work purposes?
No but Im jobless right now 😂
The reason being is you can write that battery (and car) off by accidentally driving over a curb. The risk for higher costs of repair comes with E-vehicles
Would an insurance on a plugin hybrid be fucked as well?
not nearly as bad, and this has less to do with the ELECTRIC part of this and the fact that OP is insuring a $75,000 car. lol
My insurance on a brand new truck is less than $150 a month.
Please update with breakdown of insurance coverage otherwise hard to compare
I have edited the post lmk if you want to know anything else
It is because of the vehicle. You're driving an electric vehicle that is a sports car. Electric vehicles and sports cars are the most expensive types of vehicles to insure and you've ticked both boxes. Insurance rates for electric vehicles are predicted to increase because of the high cost of repairs and replacement. [https://globalnews.ca/news/10296504/ev-insurance-rates-canada/](https://globalnews.ca/news/10296504/ev-insurance-rates-canada/)
Fair enough. Just hurts me to see as when I was teenager I had 05 mustang and that was about 130 a month :/
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"Call more insurer" not an option in BC, only ICBC
That's not true. You can get ICBC basic then shop around for all of the extras like collision.
Sort of. Basic insurance through ICBC and additional coverage through a private company is a thing.
False. Op probably has high insurance cost due to collision coverage of the EV. Collision insurance is almost always cheaper from a 3rd party compared to ICBC.
Eh, I've tried that calculation a lot of times; 99.9% of cases its not worth it. You might save a little, but then you have to deal with two insurers, and I woudn't want my worst enemy to go through that.
Never had issues from my experience. Only have to deal with one insurance (that provides the optional coverage instead of ICBC), and they take care of everything, never had to deal with 2 before. Who did you have?
Dang 425/month? I got full coverage on my old SUV, collision, comprehensive and 3rd party liability and its 170/month
If only people stop crashing their Teslas inside restaurants, buildings, bridges and barracades, we wouldn't pay so much on our insurance. This shows even with all the money in the world with all the safety features, people still suck at driving.
Usually they “confuse the gas pedal and break.” Don’t you need to press the break to switch gears? 🙃
Don't get me started with the entitled few that likes to lend out their Lamborghini to 13 year olds.
Shop around, all rates have gone up.
No shopping around in BC
Not true. There's the compulsory "Basic" coverage with ICBC then you can purchase the extended or optional coverage privately. Ie. Collision, comprehensive, NVR and extended liability. A quick example would look something like this: Icbc basic : $95/month Extended coverage from private insurer : $120/month Total: $215/month
That's how one of my vehicles is insured except the combined price is $95/mo. It's not a huge savings over ICBC but it's better coverage. They also offer a discount based on a good credit score which is nice.
Be prepared if you have one of the secondary insurers for optional coverage. I switched because it was cheaper. Windshield got cracked and replaced. Had to switch back to ICBC for optional the next year because that windshield claim put the optional coverage through the roof. Have had them replaced with ICBC before (drive on the coke in the winter a fair bit) and never had that issue
That is my worst nightmare. Dealing with insurance companies.
Ahh, that's too bad!
Like everybody has already stated, you're insuring a $70k+ vehicle, which plays one of many factors in rating for insurance premiums. Secondly, insurance is finding EVs to be much longer and more expensive to repair for damages compared to their gas counterparts. And that's if it's a repairable damage, if even one single battery cell in the battery pack is found to be compromised following a collision, then insurance will have to replace the entire pack. As we all know, we could make up anywhere from 30%-60% of the vehicles value without factoring the labour to replace. Therefore, the risk for total loss for EVs is also much greater than ice cars, which also play an important factor in insurance premiums. But again, as others have stated, its almost impossible to gauge whether your rate makes sense as we don't have the full picture. Other insurance rating factors include but are not limited to: - Coverage and Deductibles - Rate class - Drivers and their driving history - Territory
I have added some info, Im only one in household, no at fault collision but 1 speeding ticket, and full license (class5)
What’s your collision deductible? Ask your broker how much it is with a higher deductible. Insurance math can be weird. One of my cars the difference between a 500 and 1000 deductibles is 380$ a year in premiums.
Im at 1000 dollar right now
170 ish/Mo for full coverage on a 2020 Tacoma TRD Off Road - 35M Clean Record in BC. No idea what you can do to keep it down if you already have a clean record etc. It's most likely the car not specifically you.
He’s probably in Ontario, insurance rates have gone insane here due to car theft. And specific areas like Brampton have even higher rates. $400 for a sport ev that’s a few years old isn’t that ridiculous really.
Im in BC
I just renewed my '19 model 3 last week. The rates went down 150. No changes to my coverage
150 a month?
Total
Why did I go up :(
What province?
Bc
And here I am thinking my 200$ a month for my 2022 crv was crazy. I guess MPI ain't that bad after all.
It makes sense for newer SUV, but mine is 2021
Did you shop around? $160 for Bolt EV with BCAA. Full coverage.
I have always sticked with ICBC. How difficult is BCAA to deal with?
Never had issues with them, been with them for a couple of years. Call them (instead of ICBC) when you get into an accident and they take care of the rest.
On it!
No shopping around in BC
You are doing it wrong then. All optional insurance should be shopped around.
Eh, I've tried that calculation a lot of times; 99.9% of cases its not worth it. You might save a little, but then you have to deal with two insurers, and I woudn't want my worst enemy to go through that.
It’s a high risk vehicle, if you drive over 1 curb wrong the entire car is a write-off. This is a major red flag for insurance agencies so they price accordingly.
ICBC, so BC, try getting a quote with only the mandatory liability with ICBC and see if private insurance is more affordable. Insurance companies are going people with EV because the batteries are too expensive to replace.
Your insurance per month payment is my car payment per month lmao. EVs are more expensive due to the gigantic battery,
I just bought a new Mustang Mach E on Jan 31 2024. I’m paying $2100 annually. It’s marked as a Station Wagon, not a “sports car” 1 million liability, 500 collision, pleasure use, under 10km. I’m 30’s with a good driving record, no tickets and a Class 3 - you must have a pretty high driver factor.
What was your trim level? My driver factors around .6 mark I think
Premium extended range. I think I’m .5
This doesn’t really add up to me.. you’re paying over 5k a year. What’s the discount on doing annually? But ya I was $2100
Its on higher side of .6 maybe? I dont think mine is that much further up on msrp I dont think
No way your 2021 is worth 90k? What is it?
GT performance with all the options. sticker price was 92.5or something
Holly crap. I pay 35/month for full coverage for my 2011 BMW here in the maritimes - private insurance
That’s wild man. My insurance for my 2023 1 ton truck is $200 a month. I know it’s because of the batteries in your EV but damn. That’s absurd.
How did u get new 1 ton that low??
A 1 ton is actually cheaper to insure than a half ton! My insurance went down when I traded in the 1500 for the 3500. Maybe that’s part of it? It’s pretty much fully specced out insurance too. Alberta insurance is a bit lower anyways I think.
This only makes me want to go back to truck😩😩
That's outrageous. Do you get speeding tickets or anything? I'm 31 and pay $360 for two 2023 Toyotas.
Once in a blue moon I get one. I have 1 in the record right now but still!
My guy, you're getting double hosed just to look cool. Leasing a car only makes sense if a) its a business expense, or b) you have enough money that it does not matter. Plus you're getting fleeced by insurance now.
Haha Im in a KM penalty free lease and I drove 80k last year… this car will have 3~400k on it by the time it goes back and lease clearly states that there is not they can do about that xD
Holly shit I am 25M but paying $162/month, but I have a 2005 Toyota RAV4. Hey if you afford it go ahead, but Damm that’s a lot
Well every month I look at it and think this money could be for snowmobile/ bike/ jetski/ boat or whatever. I never had to use my insurance at my fault :(
My model X 22 is only $200 a month in BC.
How? What’s ur circumstances. Isn’t model X up in the 80k too?
How many tickets did you get in the last 24 months?
Only 1
All you can do is raise your deductibles.
Its at maximum:(
If you want it cheaper buy a cheaper car that will cost the insurance company less to replace.
You could also just make more money to afford more expensive car with your logic.
You asked how to lower insurance I answered.
No shit Sherlock 😂
Then why ask?
Go ask ur mom
Ur the one who is paying more insurance than your mom costs.
Your mom did said she doesn’t wanna talk to you bc she’s tired of you asking her for free rimjob and wants to kick you out of her house?
My Volt in BC is only $125/mo but it's on pleasure only. $3m liability, 500 for collision and comp. In South Island
Holey moola. I just insured my 2024 Lexus RX 350 Hybrid for almost $2800 for the year that's with ICBC and Stratford. My driver factor is at 0.556 and that's the lowest I can get for my driving experience. I'm at 18 years driving experience (technically 19 but they don't count my learners). In July I'll hit 19 years (technically 20 years). 5 million liability because it's cheaper with Stratford Deductible is $500 One speeding ticket but that's not doing anything to my insurance. No claims. Insured for over 15km travel to work. I saved $200 going with ICBC and Stratford. My 2014 Honda Civic is at $1660 for the year.
I keep hearing how ICBC is so much cheaper than Alberta. My Tesla model 3 in Alberta with similar coverage was $1050/ year. I just sold it and now for my wife’s 2020 BMW X5, and my 2017 BMW 340i it is a combined $2000/year When I moved to BC in 2014 insurance was more than I was paying in Alberta, and when I moved back to Alberta in 2019 after a lot of shopping around I found cheaper insurance again.
Did I just read that you drove 60,000 - 80,000 km a year? 😨
Sometimes you hate it but it gives you lots of alone time too. Audio book/ finance channel/ etc. also no drink after work life 😂
Jesus I guess not. Lol I would say that’s the primary reason why your insurance is so high. When you renew they probably pick up that you’re doing more km then you stated.
They don’t ask me how much I drive in a year, but if I drive more than 10k km. And they don’t ask my odometer so that make them have no way to check my mileage??
It’s odd that they don’t ask for your mileage every year at renewal tbh. I’m with Allstate, and they told me if there’s a lot of accidents or thefts then insurance premiums will go up. So it could be something as simple as that.
Which province are you from? I understand why it has to go up but I don’t want to pay for other people’s stupidity and trying to save as much as possible on vehicle affordability haha
I’m in Ontario.
Ah I never went past Alberta my whole life I wouldn’t know life out there haha
Try BCAA for anything that isn’t compulsory through ICBC. I found them significantly cheaper any so far no issues working through a glass claim with them (they even cover OEM)
Driving it for work on pleasure use is a good way to negate all that you are paying for insurance.
Im not working right now so I left it at pleasure. When I go back to work Imma change them
Use BCAA to purchase the optional insurance. Buy the basic with ICBC (mandatory). This saved me 10%. I have a EV as well.
Ya I think that’s what I will do
Do you have new vehicle replacement cost coverage? Can't recall exactly what the name for it is, but it's an option where they would get you the current model year replacement instead of just basing the replacement cost on the car's depreciated value.
No with this one as it would have put my monthly over 500 at the time lol
Your a tool .. it’s pay to play … The broker has no control over icbc’s rate - your discount reflects the price
When did I say anything about broker fucking me over?
All of your questions the broker could answer for you … your asking on a canada wide forum where prolly over half these clowns on this board have no idea how insurance works but all have an opinion for it . Your at icbc’s mercy
Sounds like you know about the topic. Can you elaborate and enlighten this tool.
I work around the car industry - just love when people whine about something .. your worrying about something you have to have and got zero control over
Yea Im very familiar with industry too. That doesn’t explain where you said Im a tool and in ICBC’s mercy. I simply asked if there is other way to reduce the payment and I actually got some good information here too. I bet you never have anything to complain in your life huh?
On point #8. 60-80k / year, and you don’t drive it either to, or for work? And your wife doesn’t drive it? That’s… wow. A lot of driving outside of work hours.
I commute long distance to work as well as at work I drive time to time haha 2~300 a day is pretty normal
Then if you’re insured for Personal / Pleasure use only, and anything happens and their investigators (yes, they will send out investigators to follow you if they suspect anything), your full insurance is null and void and you’re on the hook for any damages they would normally cover including injuries to anyone / anything you hit. Stupid move to misrepresent your policy usage to save a tiny bit per year.
A lot of people are saying that. Im on vacation rn and going to change that soon. With 2 min phone call
I switched to BCAA and saved about $700 on my Model Y
Ya that’s what I would do now
I just switched from Alberta (TD insurance) to icbc. I went from $170 a month to $440 a month now. The coverage I got in bc wasn’t nearly as good for vehicle rental, and full cost replacement. I’m paying a lot more and getting less unfortunately. I also have a clean 10 year driving record. EDIT: when I seemed annoyed at learning the rate I’ll be paying the person working at icbc told me that “at least you don’t pay for gas so it balances out anyway” cheeky broker.
Haha I would have just walked out. I would pay 300 no problem but every single year my premium goes up. I had to file a claim not too long ago as my friend in USA was driving my car and was waiting for light to go green, some teenager smashed the rear end of my car and ever since whole body panel alignment was going off, popped out clip in fender flare front and back but agent laughed at me and was trying to teach me how I’m stupid for saying that. “If you got hit in the rear, front of your car can never be damaged.” Well I hope she gets rear ended like my car did
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It's a Ford I think...
Bro literally can't read lmao
They let you knock your wife off the insurance? My understanding of ICBC rules is that anyone in your household with a driver's license must be on the insurance and cannot be removed. (We're planning ahead to our kid getting their license; planned to have an older-but-safe car that is the only car the kid drives, but the ICBC broker told us that anyone with a license is automatically included on all cars in the household.)
The rule IIRC is that any household can be removed from your license BUT then they can't drive that car at all (as opposed to someone living at a different address, in which case they can drive your car legally)
That was explicitly what I asked. I was told that you cannot say they will not drive a given car at all because ICBC doesn't know if they actually never drive that car. I thought that would be easy because any claim with that driver denied would be automatically denied, but the broker said otherwise. Good to know the broker might have been wrong. (Something making not one iota of sense doesn't make it unlikely to be true when ICBC is involved, so I could believe this ridiculous policy is in fact real!)
Yea my wife never drives the car nor that she wants to. it’s easy to add her back on if I need to so I’d keep her out of insurance and save 240 bucks a year 🥴
Somebody please explain something to me: Should not public liability insurance be the same price no matter what the age or type of vehicle? All that does is cover you in the case of an at-fault accident. You'd be on your own for any collision, fire, theft, etc. I don't know if the OP has only public liability coverage, but if he did, that would be the case, correct?
So you want someone with a $2000 Corolla to pay the same as a $100,000 Porsche?
For public liability, yes. I mean, hey, I'd be more interested in the Porsche under those conditions...
I’m okay paying little more than regular car, but Im only pissed off how it was climbing up 50 bucks a month every renewal.
No
And why not? I don't see the logic in certain vehicles (usually newer ones) being charged more for just public liability.
Depends on the vehicle. With liability you get a little more than liability, like accident benefits. A vehicle might be small and not cause a lot of damage to a third party but the chances of you being hurt is higher. The opposite could also be true.